07/25/2020 | Press release | Distributed by Public on 07/25/2020 06:27
The initial public offering of 300 million shares, representing 12% of total equity shares of Abadan Power Generation Company was held on Tehran Stock Exchange; out of total floated equities, 250 million shares were offered to the public on Wednesday, 22 July 2020 and 50 million shares is being offered to the investment funds, on Saturday 25 July 2020.
After the price discovery carried out through book-building method, the equities were traded at IRR 15,500 per share. The newly-listed company increased TSE's total market capitalization up to IRR 38,750 billion. Also, with the initial public offering of this company on TSE, the number of companies currently listed in the stock exchange reached 339.
The activities of Abadan Power Generation Company consist of production and sale of energy within the framework of electricity market rules regulations to individuals and legal entities. The company's mission is to have the optimal exploitation of the power plant and maximum power generation, using modern technologies.